News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
USDCAD Short Term Pivot is 9989

USDCAD Short Term Pivot is 9989

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Short Term Pivot is 9989

Prepared by Jamie Saettele, CMT

“As more information (price date) is revealed, it seems more and more likely that the late April decline was a false break. There will surely be stubborn traders out there that hold on to shorts, which should fuel the move higher in the coming weeks.” The trade above 10050 leaves the late April decline as a confirmed false break. Favor the upside against 9989. A drop below would leave bulls vulnerable to a test of Friday’s low and probably 9900/25 (next long opportunity if reached). Trendline resistance (off of the October and November 2011 highs) looms at 10100.

LEVELS: 10160 10100 10062 9989 9953 9900/25

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES